Economy

China being vicious on trade, says Trump

China being vicious on trade, says Trump

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the US and Europe back from the edge of a transatlantic trade war.

And even if China wasn't a far bigger trade headache for Trump than the European Union, the meeting achieved little concrete for the US.

"[Trump]'s a great negotiator, he did a good job", said Rep. Roger Williams, R-Texas about the move to soften the administration's stance on some goods.

The White House painted the agreement as a vindication of the USA president's bare-knuckle tactics, which Trump has deployed even against allies.

Perhaps Trump thinks that because he can impose tariffs on more goods than the Europeans, the USA will win the game. We're going to tariff your cars.'.

"Our message is clear, concise, and that is we want this administration to work out those issues with section 301 and remove the tariffs so that we can get back to business", Maupin said.

Donald Trump has hailed a "very big day for free and fair trade" after reaching a deal to avert a full-blown trade war with the EU.

Marcel Fratzscher, head of the Berlin-based DIW economic institute, said the meeting had produced "a deescalation but not yet the all-clear" and warned of U.S. possibly "manipulating" the WTO for its own goals and "further weakening multilateralism".

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Trump earlier this year implemented steel tariffs of 25 percent and 10 percent on aluminum on the EU. The EU has responded that in other areas, Brussels is more generous than the US.

Juncker said the United States had agreed to build more LNG export terminals to increase supplies to Europe. The EU is trying to nudge Trump here, quite rightly, to resolve his differences with Europe on trade so that the two sides can join forces against a more menacing adversary.

The European Union's willingness to negotiate the lingering trade disputes with the United States is a vindication of President Donald Trump's trade policy, his Commerce Secretary Wilbur Ross has said.

He says America does have some of its own retaliatory tariffs that will be resolved as a part of the trade talks.

Auto tariffs at the level Trump has threatened would add about 10,000 euros (US$11,700) to the sticker price of a European-built vehicle sold in the USA, according a European Commission assessment obtained by Bloomberg News last month. At the Group of Seven summit in Quebec, Trump was roundly criticized for publicly berating allies over their trade practices and provoking a needless trade war.

On Monday, at an event to celebrate US-made goods, Trump told his audience: "They're coming in to see me Wednesday and we'll see if we can work something out".

Still, the lack of clarity about the long-term EU-US trading relationship stoked continued concerns in Germany, Europe's largest economy.